| State: |
MT |
| Incentive Type: |
Income/Franchise Tax Incentives and Credits |
| Incentive Title: |
Other Tax Credits |
| Description: |
1. HISTORIC BUILDING PRESERVATION CREDIT This credit allows 25% of the federal tax credit of qualified rehabilitation expenditures. The credit may be carried forward for 7 years.
2. Infrastructure User Fee Credit allows businesses may take a credit for the fee charged by a local government unit for use of the infrastructure.
3. The Mining Exploration Incentive Credit applies to activities associated with both new mines and mines that are being reopened. A credit may be claimed for certified expenditures of mining exploration activities not to exceed 50% of the tax liability for the tax year that is related to production from the mining operation at which the exploration activities occurred.
4 . NATURAL RESOURCE TAX INCENTIVES The State of Montana has several exemptions and reduced working interest rates for various natural resource activities involving the mining of natural gas, metal, coal and oil production.
5. ALTERNATIVE MOTOR FUEL CREDIT A credit of 50% of equipment and labor costs up to $1,000 per vehicle for converting a liscensed motor vehicle to operate on alternative fuel.
6. RECYCLING CREDIT A credit between 5%, up to 25%, of the cost for equipment used to collect, process, and manufacture products from reclaimed material or property that treats soil contamination is allowed against corporate liscence tax. |
| Eligibility Requirements: |
1. Must be an eligible corporation, small business or partnership. Must meet IRS definition for rehabilitation expenditures.
2. Businesses using infrastructure improvements financed through Board of Investment grants to local government.
3. Individual, corporation, partnership, small business corporation or limited liability company engaged in mineral exploration in the state.
5. Must be a qualified business.
6. Must be an eligible corporation, partnership, or small business, as defined.
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| Geographic Restrictions: |
Statewide |
| Granting Authority: |
State of Montana |
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